Hello traders and hodlers! It’s been a while since my last BTC analysis, but here we are again! Yes, BTC is hitting right now a minor target, which is this black line around $ 12.3k, and maybe this point will work as a resistance for the crypto.
The volume spiked a lot in the end of July, but now is returning to its normal levels. This might indicate that this movement is just an accumulation, before the next explosion.
During bull trends, pullbacks with low volume are expected, according to Dow Theory’s 5th tenet: The Volume Must Confirm the Trend. But I find the weekly chart even more interesting:
There’s a pennant pattern here, and our main target here is the $ 14k. It is a reasonable target, and we have been talking about it since April, I think. When BTC was trading at $ 7k people thought it was crazy to say BTC at $ 14k. Now it doesn’t seem too crazy, right?
Yes, the $ 14k is our main target now, for the mid-term, and since the trend is bullish, we will probably nail it. We could see another pullback at the weekly chart, yes, but this wouldn’t spoil the bull trend at all, and the pennant pattern would still be valid.
The last time we traded a pennant pattern in a weekly chart was on UKOIL, I believe, and it is usually a good pattern to trade in this timeframe.
And before I forget, please, support this idea! I’m sure you find it at least interesting, otherwise, you wouldn’t still be here, right? And follow me for more analyses like this!
Recent public trades (links below):
XP: +30%
AAPL: +10%
LB: +45%
UKOIL: +62%
Congratulations to all of you, my dear subs, who believed in my trading methodology, and challenged the world by being a bull! We deserve to celebrate!
BECOME A MEMBER!
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
The volume spiked a lot in the end of July, but now is returning to its normal levels. This might indicate that this movement is just an accumulation, before the next explosion.
During bull trends, pullbacks with low volume are expected, according to Dow Theory’s 5th tenet: The Volume Must Confirm the Trend. But I find the weekly chart even more interesting:
There’s a pennant pattern here, and our main target here is the $ 14k. It is a reasonable target, and we have been talking about it since April, I think. When BTC was trading at $ 7k people thought it was crazy to say BTC at $ 14k. Now it doesn’t seem too crazy, right?
Yes, the $ 14k is our main target now, for the mid-term, and since the trend is bullish, we will probably nail it. We could see another pullback at the weekly chart, yes, but this wouldn’t spoil the bull trend at all, and the pennant pattern would still be valid.
The last time we traded a pennant pattern in a weekly chart was on UKOIL, I believe, and it is usually a good pattern to trade in this timeframe.
And before I forget, please, support this idea! I’m sure you find it at least interesting, otherwise, you wouldn’t still be here, right? And follow me for more analyses like this!
Recent public trades (links below):
XP: +30%
AAPL: +10%
LB: +45%
UKOIL: +62%
Congratulations to all of you, my dear subs, who believed in my trading methodology, and challenged the world by being a bull! We deserve to celebrate!
BECOME A MEMBER!
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
🔴 Only 5% of traders manage to beat the market.
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💲💲 Project 5%: + 104%
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💪 Public track record.
👉 Join the 5%: thefinancehydra.com/
💲💲 Project 5%: + 104%
🔹 S&P500: +35%
💪 Public track record.
